
Annual market size of NFT in different segments worldwide 2018-2021
NFT projects in both art and gaming were both worth several millions of U.S. dollars in 2020, but were much smaller compared to figures in 2021. Non-fungible tokens, or NFTs are unique, non-transferable digital assets stored in blockchain. When purchasing one of these using a cryptocurrency like Ethereum, you get a digital, blockchain-backed certificate of authenticity. For this reason, they are often used to prove the ownership of digital files, including GIF, JPEG, or MP3 formats. Once digital files are uploaded as non-fungible tokens on blockchains, they can be offered for sale, since it would be always possible to distinguish the original file from its copies shared online.